Susquehanna Trims RPC (NYSE:RES) Target Price to $6.00

RPC (NYSE:RES - Free Report) had its price objective cut by Susquehanna from $6.50 to $6.00 in a report issued on Friday morning, Benzinga reports. They currently have a neutral rating on the oil and gas company's stock.

RES has been the subject of several other research reports. Citigroup lowered their price objective on shares of RPC from $6.75 to $5.25 and set a "sell" rating for the company in a research report on Wednesday, July 10th. Stifel Nicolaus decreased their target price on shares of RPC from $8.00 to $7.00 and set a "hold" rating on the stock in a research report on Friday, October 11th.

RPC Price Performance

Shares of RPC stock traded down $0.03 during trading on Friday, reaching $5.97. 2,001,165 shares of the stock traded hands, compared to its average volume of 1,727,197. RPC has a 52-week low of $5.66 and a 52-week high of $8.60. The business has a fifty day simple moving average of $6.41 and a two-hundred day simple moving average of $6.59. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 8.53 and a beta of 1.55.

RPC (NYSE:RES - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.05). The firm had revenue of $337.70 million for the quarter, compared to analysts' expectations of $365.33 million. RPC had a net margin of 8.08% and a return on equity of 11.52%. The business's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 EPS. On average, research analysts predict that RPC will post 0.55 earnings per share for the current fiscal year.

RPC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 11th will be given a $0.04 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.16 dividend on an annualized basis and a yield of 2.68%. RPC's dividend payout ratio is presently 22.86%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of RPC by 7.9% during the second quarter. Dimensional Fund Advisors LP now owns 10,456,497 shares of the oil and gas company's stock valued at $65,353,000 after buying an additional 769,578 shares during the last quarter. Van ECK Associates Corp grew its position in RPC by 0.7% in the 1st quarter. Van ECK Associates Corp now owns 2,998,405 shares of the oil and gas company's stock valued at $23,207,000 after acquiring an additional 19,702 shares during the last quarter. American Century Companies Inc. increased its stake in RPC by 24.1% in the second quarter. American Century Companies Inc. now owns 2,236,307 shares of the oil and gas company's stock worth $13,977,000 after purchasing an additional 434,849 shares during the period. Victory Capital Management Inc. lifted its position in shares of RPC by 48.7% during the second quarter. Victory Capital Management Inc. now owns 2,004,789 shares of the oil and gas company's stock worth $12,530,000 after purchasing an additional 656,446 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of RPC by 31.9% during the first quarter. Empowered Funds LLC now owns 777,986 shares of the oil and gas company's stock valued at $6,022,000 after purchasing an additional 188,377 shares during the period. Institutional investors own 41.06% of the company's stock.

RPC Company Profile

RPC, Inc, through its subsidiaries, engages provision of a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties. The company operates through Technical Services and Support Services segments. The Technical Services segment offers pressure pumping, fracturing, acidizing, cementing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, pump down, and fishing services that are used in the completion, production, and maintenance of oil and gas wells.